Financial Summary (All financials)
In millions, except per share items | Dec-31-22 | Dec-31-21 | Dec-31-20 | Dec-31-19 | Jan-25-19 | Dec-31-18 | Jan-26-18 | Dec-31-17 |
Revenues | 4,343.0 | 3,925.3 | 2,383.3 | 2,203.1 | 1,084.9 | 2,222.8 | 947.9 | 2,046.9 |
Revenue growth | 10.6% | 64.7% | 8.2% | -0.9% | 14.5% | 8.6% | 25.5% | 5.4% |
Cost of goods sold | 2,811.5 | 2,557.6 | 1,904.3 | 1,878.0 | 738.9 | 1,875.0 | 644.8 | 1,721.0 |
Gross profit | 1,531.5 | 1,367.7 | 479.0 | 325.1 | 346.0 | 347.8 | 303.2 | 325.9 |
Gross margin | 35.3% | 34.8% | 20.1% | 14.8% | 31.9% | 15.6% | 32.0% | 15.9% |
Selling, general and administrative | 261.0 | 236.5 | 225.0 | 216.8 | | 220.8 | | 206.8 |
General and administrative | | | | | 239.3 | | 208.4 | |
EBITA | 1,448.1 | 1,254.7 | 317.5 | 161.0 | 106.7 | 211.8 | 94.8 | 186.9 |
EBITA margin | 33.3% | 32.0% | 13.3% | 7.3% | 9.8% | 9.5% | 10.0% | 9.1% |
Amortization of intangibles | 11.4 | 10.9 | 10.9 | 11.1 | | 11.2 | | 11.4 |
EBIT | 1,436.7 | 1,243.8 | 306.6 | 149.9 | 106.7 | 200.6 | 94.8 | 175.5 |
EBIT margin | 33.1% | 31.7% | 12.9% | 6.8% | 9.8% | 9.0% | 10.0% | 8.6% |
Pre-tax income | 1,352.3 | 1,171.3 | 259.0 | 107.8 | 105.3 | 147.7 | 97.1 | 125.2 |
Income taxes | 288.4 | 243.9 | 65.9 | 25.1 | 0.0 | 38.7 | 0.0 | -105.8 |
Tax rate | 21.3% | 20.8% | 25.4% | 23.3% | 0.0% | 26.2% | 0.0% | |
Net income | 1,063.9 | 927.4 | 193.1 | 82.7 | 105.3 | 109.0 | 97.1 | 231.0 |
Net margin | 24.5% | 23.6% | 8.1% | 3.8% | 9.7% | 4.9% | 10.2% | 11.3% |
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Diluted EPS | $27.07 | $21.47 | $4.44 | $1.91 | | $2.53 | | $5.35 |
Shares outstanding (diluted) | 39.3 | 43.2 | 43.5 | 43.3 | | 43.0 | | 43.2 |
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EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges. |
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